Palvella Therapeutics (NASDAQ:PVLA) Stock Price Up 7.5% – Here’s What Happened

Palvella Therapeutics, Inc. (NASDAQ:PVLA) traded up 7.5% on Thursday . The stock traded as high as $140.25 and last traded at $139.6050. Approximately 40,963 shares traded hands during trading, a decline of 85% from the average session volume of 276,917 shares. The stock had previously closed at $129.84.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PVLA shares. Wall Street Zen cut Palvella Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. HC Wainwright raised their price objective on Palvella Therapeutics from $255.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Chardan Capital restated a “buy” rating and set a $240.00 target price on shares of Palvella Therapeutics in a report on Thursday, May 21st. Finally, Stephens reaffirmed an “overweight” rating and issued a $220.00 target price on shares of Palvella Therapeutics in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.53.

Palvella Therapeutics Stock Up 8.8%

The company’s fifty day moving average price is $118.78 and its 200-day moving average price is $110.20. The stock has a market capitalization of $2.13 billion, a PE ratio of -35.54 and a beta of -0.15.

Palvella Therapeutics (NASDAQ:PVLA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.30). Equities research analysts anticipate that Palvella Therapeutics, Inc. will post -5.26 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Kathleen Goin sold 4,302 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $110.73, for a total value of $476,360.46. Following the sale, the chief operating officer directly owned 2,154 shares of the company’s stock, valued at approximately $238,512.42. This represents a 66.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On Palvella Therapeutics

Large investors have recently modified their holdings of the stock. First Light Asset Management LLC purchased a new stake in Palvella Therapeutics during the 3rd quarter valued at about $33,949,000. Summit Partners Public Asset Management LLC raised its holdings in Palvella Therapeutics by 1,016.0% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 389,420 shares of the company’s stock worth $40,761,000 after buying an additional 354,525 shares during the last quarter. Vanguard Group Inc. raised its holdings in Palvella Therapeutics by 202.0% in the third quarter. Vanguard Group Inc. now owns 494,656 shares of the company’s stock worth $31,010,000 after buying an additional 330,847 shares during the last quarter. State Street Corp lifted its stake in shares of Palvella Therapeutics by 206.3% in the fourth quarter. State Street Corp now owns 420,462 shares of the company’s stock worth $44,010,000 after buying an additional 283,211 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Palvella Therapeutics by 262.4% in the fourth quarter. Jennison Associates LLC now owns 387,483 shares of the company’s stock worth $40,558,000 after buying an additional 280,573 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Palvella Therapeutics

Palvella Therapeutics, Inc (NASDAQ: PVLA) is a clinical‐stage biopharmaceutical company devoted to the discovery and development of innovative therapies for immunological and inflammatory diseases. The company employs a proprietary small‐molecule and biologics platform to identify and modulate key molecular pathways that drive neutrophil‐ and complement‐mediated inflammation, aiming to deliver targeted treatment options for patients with significant unmet medical needs.

Palvella’s pipeline comprises several preclinical assets designed to address both prevalent chronic inflammatory conditions and rare autoinflammatory syndromes.